Sagicor is looking to expand its Lloyd’s operation with a series of strategic changes to be brought into effect in 2008, the company revealed this week.
Increased capital, new teams and new lines are all on the cards for the Caribbean insurer, which consolidated its Lloyd’s business earlier this year.
But precise details will not be known until Lloyd’s has approved Sagicor’s business plans for 2008.
Sagicor bought Gerling in July, in its first foray into the UK market, which it followed with the acquisition of Byrne & Stacey Underwriting earlier this month.
Executive vice president of corporate strategy Ravi Rambarran said: “We are looking to move into other lines that can withstand a softer market.
“We are concentrating on the Lloyd’s market for the moment, because of the benefits in writing business anywhere in the world.”
On further acquisitions, he said: “The market must be attractive and give us some synergies.
“If these opport-unities come about, we will look into acquisitions.”
